Report for Date: 4/2/16
MCX Lead February: Higher Range Is To Take Profits
MCX Lead (Price figures below are in Rs/INR per Kg)
Traders long can maintain the stop loss at 119.
Expect higher range of 123.50-126.4 to be tested.
Traders can take profits at higher range of 123.50-126.4 as the opportunity arises.
Bollinger band Upper band slope is positive and closing is above the upper band.
The momentum can remain as long as upper band is not violated on closing or if 119 is violated.
Upper band is currently at 120.30.
A fall and close below the stop loss can halt the slide.
TREND INFORMATION WITH INTRA-DAY LEVELS
STRATEGY
|
CLOSE
|
DRV
|
TREND*
|
Trend
Price
|
Trend
Date
|
L1
|
L2
|
CP
|
L3
|
L4
|
Hold Long
|
122.45
|
113.93
|
UP
|
N/A
|
N/A
|
117.7
|
120.6
|
121.6
|
123.5
|
126.4
|
*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV.
PRICE, VOLUME AND OPEN INTEREST STRATEGY
Last Close
|
Price G/L%
|
Volume
|
V -G/L%
|
Open Interest
|
OI -G/L %
|
Candle
|
Position
|
122.5
|
2.5
|
93940000
|
-16.2
|
6382
|
20.6
|
Positive
|
Addition Long
|
TECHINCAL INDICATORS TABLE
RSI
|
1-ROC-RSI
|
Stochastic
|
1-ROC-
Stochastic
|
MACD
|
1-ROC
MACD
|
RS
|
1-ROC
RS
|
69.96
|
6.99
|
93.73
|
2.08
|
1.40
|
60.78
|
87.48
|
3.85
|
Note: Red Color Bar= Down Trend, Green Color Bars= Up Trend, Blue Color Bars= Sideways(Trend could be up or down), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Blue Color dots above the price are profit booking alerts. Purple dot on the charts are swing top/bottoms could be in place.
Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.